We provided SsangYong with financial ability to produce products like Tivoli: Anand Mahindra

The primary focus has been on developing the common power trains, and six new engines are being commonly developed. The second area has been of purchasing through common sourcing, which has brought good advantages to both the companies.

Personally I am very keen, that the management of Ssangyong try to accelerate that the work that we are doing on co-oepration and synergies.

There have been protests by 150 expelled employees to re-instate them. In the past you had indicated that you will watch the situation around Tivoli launch and take a call. How are you going to deal with the dismissed workers issue going ahead?

I want to be very clear in my response. I am aware of the protests that are going on. And the first thing I want to say is that, I am deeply concerned about the situation of people who lost their jobs and for their families.

I come from a company whose culture is to care, to trust people and be trusted by people and by the communities in which we work. At Mahindra, we do not believe in a culture of confrontation. We believe in Korea what is called as 'Sotong', which is communication, we believe in trust and transparency, we believe in working with close co-ordination with communities where our companies operate.

But there are two points I want to make. A part of the Mahindra culture, is also to empower and trust the local management of the companies that we have invested in. Dr Goenka and I are being guided by CEO Lee, who has been the architect of the revival of SsangYong, ever since it has been under his administration, it was frankly thanks to his untiring efforts over the last years, that have given Ssangyong a chance for survival.

I request the Korean public to remember, that in 2009, there were very few people, who would have thought that SsangYong would survive, and many many jobs were at stake, today thanks to the effort of Mr Lee and his team, over 4800 people have chance for survival and keep their jobs.

I use the word, Ssangyong has 'a chance for survival', and I want to emphasis these words, 'it is a chance for survival', it is a chance we cannot and must not lose. The turnaround of Ssangyong is by no means complete, there are still many challenges ahead.

Second point i want to make, I as the chairman of Mahindra Group, my responsibility and my priority has been the survival of Ssangyong and protection of jobs of 4800 people who are working today, as well as the well being of more than 1,00,000 people working at the supplier end.

It would be irresponsible for me to take short term decision reacting to short term pressure and jeopardize the job security of almost 5000 people in the long run.

SsangYong still has challenges ahead and its turnaround is not complete. One of the ways in which we are facing the challenges and hoping to complete the turnaround is by launching new innovative and exciting products like the Tivoli to accelerate this turn around

Finally, let me say this categorically, at Mahindra Group, we believe in sharing prosperity, but in order to share prosperity, you first have to create it

If Tivoli is successful and the turn around of SsangYong is successful, then I assure you along with my colleagues, that when the time comes, the need comes for fresh recruitment, we will certainly recruit from the people who lost their jobs in 2009.

You have spoken of planting SsangYong's flag around the world, are you eyeing North American market and would you look at setting up factories in Mexico, Thailand and Indonesia to meet the local tax regulation?

We have put on record that yes, we are targeting the US market, I believe for the Mahindra Group as a whole, SsangYong as a flag bearer for the Group in automobiles for the US makes good sense, not least because, Korea as a country has established its brand and reputation for making good reliable automobiles. So it makes common sense for us to support the move of SsangYong into the US. As far as factories are concerned, we have ample capacity. Our goal is to fill that capacity and as you know, the concern is about workmen and finding jobs for people here, so there is a lot to be done, before we reach a happy situation of looking for factories overseas.

Your initial impression on Tivoli and its prospects?

The way they have launched this vehicle and the way in which it has been positioned, I cannot think of a better positioning by the company. The reality is even those who want a car like features, they still want to be seen in an SUV. They have positioned it well. It is more aligned to its core and its essence.

The advertising has brought in the edginess, which is to appeal to the newest segment. They are going to be used in urban areas, you are moving from Marlboro man to the person possessing the edge. It works. But we will wait for customers response.

What will make you happy about the investment you made in SsangYong?

Two things, you obviously need a financial turnaround. We have invested money belonging to the shareholders of Mahindra & Mahindra, I cannot claim that happiness is complete without a financial turnaround and returns.

But secondly what will make me very happy is that the brand is restored to where it was, because when you leave behind the legacy, as a business person, you leave financial numbers and assets aside, you look at the brand. Because that is far more enduring than assets. If I was an inheritor, I would rather get a brand than asset. I would do anything with my brand, but assets are very specific, not necessarily enduring.

Ssangyong used to have a very strong brand and it used to produce vehicles with high quality, I think it has to get back to that level.

We understand that Mahindra Group has other businesses in Korea, what is the current situation about other business outside of Ssangyong?

We are strong believers in Korean economy, not just because of its growth, but the growth that has been sustained despite a very challenging global economy. We are believers also because of the innovative ability of the Korean economy. So we intend to deepen our involvement in this country for sure.

Even before SsangYong, we have had a long relationship. We procure parts for our automobiles from Korea, and then we began distributing the tractors of Tong Yang Moolsan in America. In fact you might find it interesting to know that a good percentage of tractors that we sell in US under the Mahindra brand, are in fact tractors made by TYM. As some of you may know, we are largest tractor maker in the world in terms of the volumes or number of units sold. We are number 5 in America and number 3 in the segment that we cater to and we are the fastest growing tractor company there. We grew by 35% in the USA.

In fact I have often said before, somewhat light heatedly that USA is an emerging market for tractors.

We are also examining a JV in Korea between Mahindra Finance and some party here so that we can create a finance company for automobiles, So that we can support SsangYong Motors. Our IT company, Tech Mahindra is also exploring opportunities to work and serve the Korean companies more actively. Apart from that, we have 10 business sectors within our group and all of them at some point or other will explore opportunities in Korea.

You have invested in India during the downturn waiting for the tide to turn, now that the things seems to be moving, what is your assessment of the future?

It has been a while coming, but we definitely are seeing green shoots. The ground needs to be broken on new projects, that is our first sign when you see orders are rising and then you know that it is not just the intent that is being voiced, but it is also the real investments happening on ground. There are some green shoots, such as some revival in construction equipment demand and the demand for trucks and that should be a good sign for the future.